Air Canada upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital upgraded Air Canada (ACDVF) to Outperform from Sector Perform with a price target of C$25, up from C$16. The company navigated a significant drop in trans-border demand effectively in Q1, which demonstrates its diverse network and ability to adapt quickly to an evolving environment, the analyst tells investors in a research note. RBC says this is going to drive a re-rate higher in the shares.